Tyler Technologies, Inc. (NYSE:TYL) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Tyler Technologies, Inc. has received an average rating of "Moderate Buy" from eleven brokerages, with three rating it as a hold and eight as a buy, targeting an average price of $688.27.
• Insider activity shows significant sales, with Director Brenda A. Cline selling 2,500 shares, and CFO Brian K. Miller selling 3,333 shares, indicating a decrease in their ownership positions.
• Tyler Technologies' stock opened at $580.24, with a 12-month high of $661.31 and a net profit margin of 13.66% reported in their latest earnings results.

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $688.2727.

Several analysts recently commented on TYL shares. Needham & Company LLC reissued a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th.

Insider Activity at Tyler Technologies

In other news, Director Brenda A. Cline sold 2,500 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. The trade was a 49.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 3,333 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the transaction, the chief financial officer owned 11,231 shares in the company, valued at approximately $6,384,374.26. This represents a 22.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,602 shares of company stock valued at $17,747,049. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Qtron Investments LLC increased its stake in shares of Tyler Technologies by 59.7% during the 2nd quarter. Qtron Investments LLC now owns 1,276 shares of the technology company's stock worth $756,000 after purchasing an additional 477 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of Tyler Technologies by 15.6% during the 2nd quarter. Cresset Asset Management LLC now owns 496 shares of the technology company's stock worth $294,000 after purchasing an additional 67 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Tyler Technologies by 5.1% during the 2nd quarter. Brown Advisory Inc. now owns 15,863 shares of the technology company's stock worth $9,404,000 after purchasing an additional 770 shares during the last quarter. Amundi increased its stake in shares of Tyler Technologies by 9.0% during the 2nd quarter. Amundi now owns 140,455 shares of the technology company's stock worth $81,897,000 after purchasing an additional 11,573 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Tyler Technologies during the 2nd quarter worth $406,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

TYL stock opened at $580.24 on Thursday. Tyler Technologies has a 12 month low of $513.52 and a 12 month high of $661.31. The firm has a market cap of $25.10 billion, a PE ratio of 82.89, a P/E/G ratio of 4.33 and a beta of 0.85. The firm has a 50 day simple moving average of $577.14 and a 200 day simple moving average of $579.11.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same period in the prior year, the business earned $2.40 earnings per share. The business's quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.

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